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- USD/JPY Price Analysis: Bears are moving in with 136.00 eyed
USD/JPY Price Analysis: Bears are moving in with 136.00 eyed
- USD/JPY is on the move to the downside following a bullish correction.
- USD/JPY bears have moved in from a 38.2% Fibonacci level.
In a prior analysis, that outlines the prospects from both a bullish and bearish perspective, the bears have run with it and USD/JPY is now trading into key support around 136.50 and the following illustrates prospects for the next direction in flow.
USD/JPY prior analysis
While the above was only an illustration of the probable type of price trajectory from an hourly perspective, it does resemble the following chart and live market as follows:
USD/JPY live chart
The bears are moving in following the correction of the sell-off with more space to the downside to be mitigated as per the grey area. A downside continuation could be on the cards:
There is an order block from where the price took off which could be a place of interest should the market continue to melt.
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